I find it hard to believe that you guys find thedeal first and the tenant last. would vit make since to have a buyer then lock up aproperty? give me some feed back on this please.
In a perfect world, yes it would, but this is not a perfect world.
How long can you hold a buyer while you are looking for a deal for him? How do you know that when you find a deal, that your property is the property that he wants to buy? After you made a deal, what if it takes the seller 30 days to move and your buyer can't wait that long?
If you know where to find buyers who can wait forever and will purchase a property anywhere, anytime, for any price, send them my way....
Tenant/buyer's are a dime a dozen(well almost). The last thing I want to do is custom tailor a tenant's wishes (realistic or not) with a property which I may take a few years to find. Will this t/b wait? I think not.
I subscribe to the "build it and they will come" approach. First find one property. Next screen the potential tenant/buyers who just "love this house".
This is a lesson I just learned. I put an ad in the paper. Rent/Own, several properties available,etc. I got about 30 phone calls from a 1 day ad and took down as much info as I could and tried to find out what kind of properties to look for. That was 2 months ago and I still haven't locked in a single property. It seems that T/Bs are a dime a dozen but finding motivated sellers in today's market is the real challenge (at least here in Sarasota, FL) Go ahead and run an ad to test your market and you'll find out which area will take the most effort. I now know that I definately won't have trouble putting tenants in a property but it may be different where you are. Andy
In a perfect world, yes it would, but this is not a perfect world.
How long can you hold a buyer while you are looking for a deal for him? How do you know that when you find a deal, that your property is the property that he wants to buy? After you made a deal, what if it takes the seller 30 days to move and your buyer can't wait that long?
If you know where to find buyers who can wait forever and will purchase a property anywhere, anytime, for any price, send them my way....
Tenant/buyer's are a dime a dozen(well almost). The last thing I want to do is custom tailor a tenant's wishes (realistic or not) with a property which I may take a few years to find. Will this t/b wait? I think not.
I subscribe to the "build it and they will come" approach. First find one property. Next screen the potential tenant/buyers who just "love this house".
tenant buyer can be had in an afternoon... qualified and with cash...
This is a lesson I just learned. I put an ad in the paper. Rent/Own, several properties available,etc. I got about 30 phone calls from a 1 day ad and took down as much info as I could and tried to find out what kind of properties to look for. That was 2 months ago and I still haven't locked in a single property. It seems that T/Bs are a dime a dozen but finding motivated sellers in today's market is the real challenge (at least here in Sarasota, FL) Go ahead and run an ad to test your market and you'll find out which area will take the most effort. I now know that I definately won't have trouble putting tenants in a property but it may be different where you are. Andy